“Customers may forget what you said but they’ll never forget how you made them feel. “ Customer Service is the emerging battlefield where small businesses need to score. And if they manage to do well here, then their brands can get automatically differentiated. The existing customers can function as the brand advocates, socially endorsing the business on all channels. Customers today demand to engage with both small and big brands on a 1-to-1 basis. They expect the brands to remember their names and details on second interaction onwards. CRM – The Importance of #Customer Relationship Management The depicted infographic here clearly chalks out what needs to be done when it comes to resolving customer issues by delivering a smooth and seamless experience through various channels. Customer Relationship #Management is the central point of this infographic developed in tandem with TalkDesk covering the importance of Customer Service across all communication channels, and how to make sure every customer is treated like a VIP. Infographic Courtesy : Kaylee White Ghergich & Co. Created by httpfs://talkdesk.com Social Media and #User Experience Social Media has its own role to play when it comes to “USER EXPERIENCE”- Convince and Convert suggests that 42% of customers develop two minds about a brand if they do not get a social reply from it within 1 hour. So it becomes essential for all businesses to have the capability to get back to the customers promptly on social media. Customers want effortless engagement Successful companies recognize that the race from good to great customer experiences is on and that consumers just want effortless engagement. Customer service teams must now use data from social media platforms, mobile apps, loyalty programs and a host of other sources to tailor experiences to their customers. The goal is to gain a competitive edge and that means creating an emotional, therefore memorable experience for your customers. Poor customer service has an impact on the bottom line and profit margins. Good customer service can be the greatest sales asset a retailer can have, encouraging loyalty and word-of-mouth recommendations. But bad customer service cannot only see a particular sale lost in an instant, but long-term irreparable damage done to the brand. Secure Your Place in the Market Through Great Customer Service Firstly, marketplaces are competitive. There are numerous sellers, sometimes selling fairly similar products. One point of differentiation is price, but another is certainly customer service. There is great cache to being listed as one of the number one sellers on a marketplace. Customers see you first, and you rank highly in searches. One of the ways to reach this status is via customer service, so sellers really go the extra mile to ensure customer service is as good as it possibly can...

Startup Success Secret – Know your weaknesses “Don’t be a lone wolf. Lean on the experience and smarts of your teammates, investors, and mentors to help solve the tough problems and take advantage of the opportunities – SETH BANNON, Amicus First-time entrepreneurs are often oblivious to their own weak spots. Getting to know your strengths and weaknesses is easier said than done. Self-assess yourself by making a simple list of every business skill you think you possess. Then, add other skills that you think make a good leader/business owner. Add any additional questions you think would be helpful. Take stock of the lacunae in your skillsets, and rank which positions you need to hire first. “Know your core competencies and focus on being great at them. Pay up for people in your core competencies. Get the best. Outside the core competencies, hire people that fit your culture but aren’t as expensive to pay.” – Mark Cuban If you want your business to be successful, challenge yourself, be honest with yourself, surround yourself with talent, and watch success find you. As you reflect back on the evolution of your business, it will be clear to you that you would not have gotten to this point had you not identified your strengths and weaknesses, looking to fill your weaknesses with external talent. Example SWOT: A start-up small consultancy business might carry out the following SWOT analysis SWOT Analysis Why use SWOT Analysis? SWOT Analysis is a very effective way of identifying your Strengths and Weaknesses, and of examining the Opportunities and Threats you face. Carrying out an analysis using the SWOT framework helps you to focus your activities into areas where you are strong and where the greatest opportunities lie. Strengths: Being able to respond very quickly due to lack of bureaucracy and red tape, no need for higher management approval, etc. Being able to provide hundred percent good customer care and satisfaction Strong reputation within the market Being able to adapt to the changing market quickly Little overhead, so can offer good value to customers Weaknesses: The company has no market presence or reputation Has a small staff with a weak skill base in many areas Vulnerable to vital staff attrition Cash flow will be unreliable in the early stages Opportunities: Business sector HAS SCOPE FOR EXPANSION , with many future opportunities for success Local community wants to encourage local businesses as it provides work opportunities to the people of that community Competitors may be slow to adopt new technologies Threats: Will developments in technology change this market beyond our ability to adapt? A small change in focus of a large competitor might wipe out any market position we achieve Courtesy: http://www.writing.ucsb.edu/...

Startup Success – A Clear and Good Value Proposition “You don’t get a second chance to make a first impression” “The #strategy is to first know what you don’t know, the tactic is to grind, and the value is to remember: there are plenty of places to innovate.” -David Friedberg, Founder @ Weatherbill A great value proposition is indispensable for any business hoping to clearly communicate to customers why they are different, better, and worth purchasing from. Why Your Value Proposition Matters? “A problem well stated is a problem half solved.”-Charles Kettering The problem is, many companies just can’t seem to nail down exactly what a value proposition is and what it should say. A value proposition is a clear statement of the #tangible results a customer gets from using your products or services. Its outcome is focused and stresses the business value of your offering. Let the statement you make come from your heart, let it represent the very idea behind your business, let it highlight the benefits you plan to give your customers, let it awaken the entrepreneurial spirit and make you want to do something more for the end users, let it be straight but sharp. What makes a good value proposition? Clarity! It’s easy to understand. It communicates the concrete results a customer will get from purchasing and using your products and/or services. It says how it’s different or better than the competitor’s offer. It avoids hype (like ‘never seen before amazing miracle product’), superlatives (‘best’) and business jargon (‘value-added interactions’). It can be read and understood in about 5 seconds. I basically like what Pinterest has to offer- their unique and simple pin boards to organize our thoughts around a subject. I feel happy when I visit Pinterest and exploring various pins gives me immense satisfaction. The way they have developed their business around the mindset of people is something brilliant. It’s attractive to women. To designers. To photographers and artists. To mom’s who cook, decorate or plan events. That’s kinda niche-y. Some Interesting Value Proposition Quotes: A unique value proposition is a single, clear compelling message that states why you are different and worth buying – Steve Blank Price is what you pay, Value is what you get – Warren Buffet If people like you they will listen to you, but if they trust you, they’ll do business with you – Unknown Live authentically. Why would you continue to compromise something that’s beautiful to create something that is fake- Steve Maraboli You do not really understand something unless you can explain it to your grandmother – Albert Einstein &amp;lt;a HREF=”http://ws-in.amazon-adsystem.com/widgets/q?rt=tf_cw&amp;amp;ServiceVersion=20070822&amp;amp;MarketPlace=IN&amp;amp;ID=V20070822%2FIN%2Fmanagementgur-21%2F8010%2F62da8e52-21d7-4d09-9aff-da04d242f556&amp;amp;Operation=NoScript”&amp;gt;Amazon.in...

Successful Startup Secret – Choose an idea you think is important Entrepreneurs often ask, “How do you pick an idea for a business?” and the question is difficult to answer. It all depends on your expertise, experience, financial strength, #industry knowledge and of course a great team to back you up. A good place to start is with the people you surround yourself with. A great idea is undoubtedly the catalyst to set things in motion, but at the end of the day, it’s the team you hire who ultimately determine the success, or failure, of the company. There’s no precise or familiar formula, but the following five open secrets will help you in discovering that perfect magic to achieve your goals (to be discussed in five sessions). The first secret being, Choose an idea you think is important-It is Your Brainchild “Ideas are considered generally bad for two very different reasons: (1) so uncommon no one gets it or (2) so common, seems redundant. -Zaid Farooqui An idea for a new startup is like naming your baby. Suggestions pour from all quarters and the fun part is you are not going to like any one of those. Ultimately an #entrepreneur would like to give life to his very own idea which may come as a boom at the grocery store, in the shower, or even during sleep. There is no better form of motivation than having a sense that you are investing your mind, soul and energy into something vital, and that never ending #passion to become successful in your endeavor. Once you’ve done that, ask your friends and family, too. Getting as much input as possible is the first step to making a good decision. 1. Does your customer exist? 2. Will your business idea still be relevant in a few years? 3. Do you really want to run this business? 4. Who is your competition (and does it matter)? You need mammoth strength, I’m talking about your will power to start and run the show, for which you need to believe in yourself completely. This is the first step, “Believing in yourself”, the rest follows automatically. This self-belief comes when you possess the right business proposition for the right target segment with a clear business plan. Startup Business Plan For a Restaurant Here I have listed some of the enterprising startup ideas that have shown growth in 2014 and seem to be lucrative in the years to come: #Online store – Requirements: A good product or service, a reliable and authentic payment gateway, a easily navigable website and a large market. #Personal Training – Requirements: Expertise and Knowledge on nutrition and exercises, a facebook page, a skype account or Google hang-out to build followers, a subscription payment gateway through Paypal or other similar bank accounts. #Photography– Requirements: A state of the art camera, a great portfolio of your pictures, a creative facebook page or pinterest board to promote yourself. #Online Teaching– Requirements: Expertise in the concerned subject, member in a popular teaching platform or your own website, an LMS software, skype account. #HR #Recruitment– Requirements: Huge contacts in the industry, a reliable partner, a good website with testimonials, understanding client requirements and satisfying by supplying appropriate talent. These ideas suit people with minimum investment in mind, but if executed properly you can establish yourself nicely in a span of two years and then there is no looking...

The Viability of Running a Restaurant A project can be made into a roaring success provided you have made your in-depth analysis and research to understand the nuances of the industry. Before plunging into the market it is better to have the data ready with you. How prepared you are to run the business is not the question; how well prepared are you to face the hurdles and challenges that come your way is all that matters. Only if you withstand the rough weather may you proceed to grow and then expand. Industry Insights Restaurant industry is one such area where many people try to set their foot daydreaming of immediate success. Unfortunately the scenario doesn’t warrant instant success. Any business that has a slow and steady growth makes it to the top. Have you ever thought about the wherewithal needed to run the show! The industry looks very appealing and promising from outside but reality matters. The industry’s main focus is on supply chain management where your primary and ultimate focus revolves round your customers, who are your main focal point. Value Added Services Customer satisfaction should be your vision, mission, objective and goal. Of course you want to make profit. For what else in the world have you entered this business. But think about it, if you are not able to attract crowds, the effort is wasted. The quality The variety The appeal The presentation The treatment The ambience The refreshment, that is being offered to the customers should make them feel special and worth the value of money they are shelling out to have an evening out with their family or friends. Rising costs make people think twice before they decide on their choice of restaurant. Be sure about the class of people whom you want to cater the needs. Go for the plan accordingly and design your restaurant. Is Your Design Appealing? The design includes a sober atmosphere where the visitors can relax, mild lighting that is soothing to the eyes, mellifluous music that creates a magical effect and the choice of drapes and furnishings that add grandeur. The core concept of food industry is “customer satisfaction”. A company’s greatest strength is the quality of its professional management. You have to manage your human resource personnel, the waiters, waitresses, the chefs, the managers, billing clerks in such a way that their one and only motive is to give quick service and great service the first time and every time. Managing Your Financials Managing your financials is an absolute necessity. The initial investment has to be taken care of since you do not know the period it takes to establish yourself in the industry. How, big chain of restaurants is run successfully all over the world? First four or five years are particularly important to prove your credibility both to yourself and others. They do their complete market research wherein the customers’ preferences are jotted down and taken into consideration. High performing and high potential managers are put into place to run the show without a hitch. Well trained waiters are a big plus. Big companies diversify to invest their profits in ever prosperous areas like food industry, where people are constantly looking for new arrivals and the “brand image” that the big companies establish cannot be matched by small time players. Great service is the key factor that makes these big time players unique. Locational Advantage Locational advantage is the most important criterion for a restaurant industry. Sufficient space must be provided for parking and the access to the location be made a pleasurable experience. Don’t go for guidance from your local competitors or friends, they will...